The FCP proposition

Transforming claim payment in the Lloyd's market.

Speed Faster Payments

Fast Payments

Send funds with ease and speed in most destinations and currencies around the world.

Reduced Capital Usage

Reduced capital usage

Streamline the funding of claims operations, eliminating the need for large loss funds

Real time view

Real time view

MA, Broker and DCA can see loss fund balances and payment logs at any time

Faster Claims Payment benefits

Join the revolution.

The FCP solution is being implemented across the entire Lloyd’s marketplace. To monitor the project framework and track its progress, you can visit the LIMOSS site.

As of Feb 2024, participating MAs represent 98% of Lloyd's GWP.

Vitesse Block

Better customer Experience

Meet or exceed your customers’ expectations by paying claims faster.

Vitesse Block

Centralised funds view

View and control your loss funds in real time; Define access rights and validation rules for delegated authorities.

Vitesse Block

Funds governance

Loss funds are held in tier-1 bank partners in regulated markets and protected through annual safeguarding audits.

Vitesse Block

No more cash calls

With FCP, Loss funds are topped up automatically on a weekly basis, minimising the need for cash calls.

Vitesse Block

Up to 80% of funds returned

Weekly automated top ups allow for a reduction in committed liquidity, freeing up capital to invest back into your business.

How FCP works.

Vitesse Block Fusica

Step one

MA holds small liquidity balances with Vitesse, automatically topped up as needed.

Vitesse Block Fusica

Step two

DCA approves a payment; the liquidity is pulled from the MA funding account(s) depending on the percentage split on the binder.

Vitesse Block Fusica

Step three

The funds are delivered to the claimant as quickly as possible, ranging from a few seconds to 1 or 2 days for the most complex destinations.

How FCP Works
"FCP is a significant move for the future of Lloyd's. It removes several steps, allowing us to decrease the time to pay claims and increase financial accuracy. Month‑end reconciliation goes smoothly and any process changes were worth it for the overall saving in effort and workflow improvement."

Dave Hausch

President, Hausch and Company

Want to learn more? Book a consultancy call now and unlock the potential of our products tailored to your needs.